How far has General Motors come since the federal government rescued it from bankruptcy four short years ago?
Now it's official: Toyota is once again the world's top automaker. Toyota Motor Corp. released its tally for global vehicle sales for last year Monday at a record 9.748 million vehicles - a bigger number than the estimate it gave last month of about 9.7 million vehicles.
China ranks as the largest producer of automobiles in the world. The United States has long been one of the world's most welcoming markets. This would seemingly be an ideal match.
DETROIT (Reuters) - Superstorm Sandy's fury caused U.S. auto sales to fall short of expectations in October, but industry executives still see a strong fourth quarter as the housing market improves.
The effects of Hurricane Sandy are expected to ripple across the auto industry. In the short term, the superstorm is expected to hurt October sales figures, as dealerships across the Eastern Seaboard missed several days of sales. But in the months ahead, analysts expect the storm to boost an already-burgeoning industry as Sandy's victims replace damaged vehicles.
White remains the most popular color choice for car shoppers across the globe for the second straight year, according to an annual survey released Wednesday. But its stay at the top may be ending soon.
From fuel-efficient subcompact cars to full-size pickup trucks, the auto industry reported across-the-board sales increases Tuesday during the month of August.
Consumers, especially those favoring Ford and General Motors vehicles, pulled back in July as an increasing amount of bad news about the economy, some driven by overblown election year politics, dampened enthusiasm for spending on big-ticket cars and trucks.
Automobile manufacturers and dealers spent $7.5 billion on advertising during the first six months of 2009, says TNS Media Intelligence. The company that keeps track of nearly every form of advertising for all industries is reporting that the figure represents a 30.8% drop compared to the same period last year, when it was $10.8 billion in spending. Not surprisingly, the plummet nearly mirrors the decline in motor vehicle sales (which dropped 27.4% during the exact same period).
Want to know a fun fact that can probably win you a free round at the bar? P.T. Barnum didn't say, "There's a sucker born every minute" – a man named David Hannum did. But before that, we can talk about George Hull. After an argument with a minister about a passage in the book of Genesis that claims giants once walked the earth, Hull – an atheist – decided to construct a ten-foot fake giant and bury it on his cousin's property. A year later, he hired men to dig a well on said p
Mexico hasn't accounted for nearly as much ink as the U.S. and Canada in recent discussions of the auto industry. But in case anyone was wondering, they're in a big hurt south of the border as well. While the American market's decline in auto sales factors in at about 25% overall, the Latin American Herald Tribune reports that Mexico has seen a 30.6% drop in sales volume.
General Motors has announced its planned production for next year: 2.8 million vehicles. That's a 45% increase over its production this year – 1.9 million cars and trucks – and according to some analysts, it's completely unwarranted. GM says it arrived at that number based on "real simple math." Analysts quoted in the Detroit Free Press today appear believe that GM was guided more by hope and a quest for market share.
We all know the state of the auto industry right now, especially with regard to the Detroit three. We'd say it's somewhere between normal and completely screwed. Sales volume has been mostly woeful, two of the Detroit automakers needed a taxpayer bailout to survive, and Chrysler has been passed around like a hot potato. Ford has more debt than Miami Beach has sand, yet the Blue Oval is considered the healthiest patient in the ICU. Beyond the cash infusion, the migration away from SUVs, and the d
Building on speculation that first leaked yesterday is word this morning that a pair of Obama administration officials have told The Associated Press that Chrysler will indeed file for bankruptcy. The decision was apparently reached after debtor negotiations with hedge funds "crumbled overnight."
Before we begin, let us state clearly that this is speculation by Karl Denninger at The Market Ticker. Examining the various stakeholders' interests in General Motors, Denninger has come up with a scenario that supposes GM's bondholders might actually want the automaker to file for bankruptcy.
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If we were cynics, we could say that Ford just happened to get stuck in deep doo-doo when America's credit markets were still reasonably flexible. When Ford leveraged all of its assets, right down to its logo, the most difficult part was probably not getting the money, it was probably swallowing its Blue Oval pride. Yet cynics or not, a CEO has to know what to do with said money, and Alan Mulally feels he and his company have done well enough to proclaim "We are competitive now" in a new intervi